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Local TV operator accused of fraud company share transfer

Aishath Mihna Nasih
04 January 2017, MVT 02:30
Ibrahim "Aswad" Waheed (L) presenting a program on Sangu TV. PHOTO/SANGU TV
Aishath Mihna Nasih
04 January 2017, MVT 02:30

A shareholder of Cocona International, which manages the local television channel Sangu TV, and the lawmaker of Velidhoo Constituency Yameen Rasheed has reported a case to Maldives Police Service over fraud transfer of company shares.

Mihaaru understands that this case is filed against the other shareholder of the company, its Managing Director Ibrahim "Aswad" Waheed.

Until recently, the company shares remained equal for both Waheed and Yameen. However, close allies of Yameen say Waheed has changed his shares to 99 percent with one percent share to Yameen.

The shares were allegedly transferred with a forged signature of Yameen.

Lawmaker Yameen refused to give any comments on the issue to media.

However, Waheed asserted that the shares were transferred with Yameen's consent and that Yameen himself had withdrawn his shares.

The issue was presented to the managing director and passed within the company's Board of Directors. Yameen and the company's secretary were also present in the meeting.

Waheed claimed that the issue might have been reported to Police over Yameen having a change of heart.

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